Biogen Exercises Option to Acquire Investigational Drug TMS-007
By Michael Dabaie
Biogen Inc Wednesday said it exercised its option from TMS Co.
Ltd. to acquire TMS-007, an investigational drug for acute ischemic
Biogen said its decision to acquire TMS-007 was based on
positive data from a Phase 2a study. The study met its primary
safety objective with no incidence of symptomatic intracranial
hemorrhage and demonstrated positive impacts on both blood vessel
reopening in the brain as well as patient functional recovery.
Biogen will make a one-time $18 million payment as part of the
acquisition of TMS-007. TMS is eligible to receive up to an
additional $335 million in potential post-acquisition development
and commercial payments should TMS-007 achieve certain
developmental milestones and sales thresholds.
TMS is also eligible to receive tiered royalties in the high
single digits to sub-teen percentages on annual worldwide net
Biogen will be solely responsible for the costs and expenses
related to the development, manufacturing and commercialization of
TMS-007 after the acquisition.
Biogen said it is evaluating the next steps for the clinical
development of TMS-007, including plans for global studies.
Write to Michael Dabaie at email@example.com
(END) Dow Jones Newswires
May 12, 2021 08:15 ET (12:15 GMT)
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